all of that into mind, let us find out what is happening as we get over to first word news from vonnie quinn. vonnie: germany, france and other european union governments are calling on the world to join them in helping india. the come -- the country battles record level covid infections. it is due to variants in india triggering a fourth wave and europe. they are hoping to quickly adopt restrictions. japan is prepared to have a proposal for a global corporate tax. taxing 100 of the world's biggest corporations, japanese tax experts say the talks would boost revenue at a time when tokyo is concerned by national debt. they are leading the effort to get agreement. china says its population grew in 2020. there were concerns that its upcoming census would show a decline. statistics say details will be released in the census report did not -- but did not specify when. china's population was reported as falling last year, the birth rate has been declining as the nation becomes more prosperous and women's education levels rise. u.s. department of homeland security says that five federal agencies ma

let's get you to vonnie quinn in new york. white house has sent an unofficial delegation to taiwan at president joe biden's request. two former deputy secretaries of state went and what one of official called a personal signal. the visit comes as the u.s. and taiwan mark the 42nd anniversary of the taiwan relations act, which biden voted for as a senator. iran has vowed to ramp up its uranium enrichment in response to what he called israeli sabotage. they will start to produce highly enriched uranium for the first time. the move will add to tensions as iran resumes nuclear talks in vienna aimed at reviving the landmark 2015 accord. south korea's labor minister says they must work alongside machines, where many jobs will be handled by artificial intelligence and robots. they told us the government needs to play its part in allowing easy move into labor from one sector to another, but he says korean workers will have to increase their adaptability. >> first of all, korea has advanced i.t. and a very high rate of automation compar

let's get first one is with the vonnie quinn. vonnie: the u.s. secretary of state is where china against encouraging -- encroaching on taiwan. antony blinken voiced concerns about beijing's aggressive actions in the taiwan strait saying the west end by commitment to ensure independence. this after departments released on official statement some cut with someone. david cameron has defended his efforts -- cameron has helped -- and is ministers came under fire for jabbing the company. cameron lobbied officials to give the company access to funds from britain's pandemic support program. japan has just made golfing history. 29-year-old muncie, has become -- moved to llama -- mutsayama earned the coveted green jacket by earning tentative far. his victory is the first major title for him. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am vonnie quinn. this is bloomberg. haslinda: still ahead on bloomberg markets: asia, gdp readings show positive growth on reco

let's get you to vonnie quinn with the first word headlines. nnie: singapore's finance has stepped aside as the designated successor to prime minister lee. in a letter, he said the pandemic meant he would be too old to take the post when the crisis is over. the surprise move will likely push back a long telegraphed power transition. lee signaled the process could take several years with the party aiming to have successor in place i the next election in 2025. the u.s. has added seven chinese firms to a list which bans them from receiving american exports. they are accused of helping to build supercomputers used in china's military efforts. it means that u.s. exporters will need the commerce department's authorization to do business with them. that will not prevent the firms from getting products made by tmsc. italy's prime minister revealed that his government recently blocked the chinese takeover of a semiconductor company. mario draghi says that he backs an extension of so-called golden power rules to protect local industries. the eu nations ha

now let's get the first word news with vonnie quinn in new york. vonnie: the white house is sending an unofficial delegation to taiwan as president biden requested. ex-senator chris dodd and two secretaries of state will arrive wednesday and what one official is calling a personal signal of biden's commitment to the island and its democracy. the visit comes as the u.s. and taiwan mark the 42nd anniversary of the taiwan relations act which biden voted for as a senator. iran has vowed to ramp up its uranium enrichment program in response to what it calls israeli sabotage on one of its nuclear facilities over the weekend. they will start to produce highly enriched uranium for the first time, taking it to weapons grade. the move will add to tensions as iran plans to unveil nuclear talks in vienna aimed at reviving the landmark 2015 accord. the u.s. has recommended a pause on johnson & johnson's single jab vaccine. six women who received the shot retrieved -- one died. the pause could last a number of days. more than 6.8 million doses of the j&j vaccine

let's get differs world is with vonnie quinn. vonnie: the eus form to -- a strong association with the astrazeneca covid vaccine and blood clots. in a statement, it said it will continue its discussions. the drug regulator issued a warning about the jab, advising people under 30 to seek an alternative. it deals a new blow to the vaccine and continues to cloud it's little or. treasury secretary janet expect president biden to support a text font -- says the plan to raise corporate taxes to 20% would be fairer to all americans. it would remove incentives for u.s. corporations to shift assets abroad. president biden is putting pressure on a publican's to support kids infrastructure plan. he is urging congress to work swiftly to pass it. speaking from the white house he called it a blueprint for the future, saying it is vital in order for the u.s. to stay competitive with china. republican lawmakers sharply oppose the event and we have also seen opposition from some democrats. pres. biden: do you think china is waiting around to inves

let's get the first word news with vonnie quinn. vonnie: more than 50 posts have been removed at the request of the indian government. a newspaper says the tweets included criticism of the government's handling of the pandemic, plus a video of an attack by insurgents. twitter says it will abide by all legal requests. american tourists who have been vaccinated against covid-19 well be able to visit the european union this summer. the european commission had says the u.s. uses the vaccine, which will enable travel to the year eu -- to the eu. the u.k. prime minister said last year he would rather see bodies piled high in the thousands than order a third lockdown. the paper says that he strongly denies the allegations. a former aide published a blog friday that categorized a litany of allegations and rule breaking. a fire killed more than 18 people in a baghdad hospital, many suffering from coronavirus. more than 100 others were injured. the cabinet has defended key officials. the fire comes as iraq grapples with a severe second virus w

look it over to vonnie quinn for a check on the headlines. vonnie: the philippines is the latest nation to record more than one million confirmed coronavirus infections. officials are assessing whether to extend the month-long lockdown made a deadly spike in cases. the philippines has the second-highest caseload in southeast asia after indonesia. the head of the wto has urged wealthy nations to explore more covid-19 vaccines, singling out the u.k. in the u.s.. although more than a billion shots have been administered globally, more than 400 billion's of those have been given to those in america, britain and the european union. they stressed the need to ensure poor nations are not left behind. >> vaccine and equity does not work. i would urge companies -- countries to share, as quickly as possible. it would be great if we could get the u.s. also to be able at the vaccine need. >> vonnie: egypt is eager to reach a settlement tied to the suez canal last month. it is paying $960 million of damages from the ever given's owners. to cover losses, inc

i'm vonnie quinn.his is bloomberg. ♪ haidi: coming up, look at the agenda of the meeting between president biden and the japanese prime minister. plus, citigroup expands banking in 13 markets across asia and europe. more on the plan and the outlook for big banks. this is bloomberg. ♪ ♪ haidi: stocks jumped to record highs in thursday's session as we look to the start of trading in asia and a positive outlook when it comes to early gains in trading here. retail sales in the u.s. and weekly jobless claims point to an accelerating recovery in the world's biggest economy. let's ring in the ceo of an asset management company. great to have you with us. we are in a bubble given where valuations are, and whether what we see in the data is a reflationary pulse. what do you see about the argument that asset classes are too much at the moment? >> a clear indicator you can look at, and we have been managing for 30 years to avoid the risk of double markets and every once in a while, things happened that don't make

let's get over to vonnie quinn. vonnie: twitter has removed or restricted more than 50 post the past year at the request of the indian government. the indian express newspaper says they were critical of the handling of the pandemic. twitter says it reviews all legal requests. iraq's prime minister is blaming health officials for a fire that killed people in a baghdad hospital for covid-19 patients. more than 100 others were injured. key officials were involved. this as iraq grapples with a second wave of the virus. senator lindsey graham says republicans may be ready to back up to $900 billion in infrastructure spending, less than the $2.2 trillion present biden has proposed. he told fox news that rather than increase the corporate tax rate, there is a deal to be done over infrastructure spending. president biden is expected to address this when he addresses congress this week. an envoy is being appointed to me and where the military has -- appointed to myanmar, where the military has been killing protesters. a conse

i'm vonnie quinn. this is bloomberg.be sure to tune into bloomberg radio to hear more from today's biggest newsmakers. broadcasting live from her studio in hong kong. there is lots more ahead. this is bloomberg. ♪ haidi: let's take a look at what we are watching as we get into the major markets trading. >> nikkei futures moving to the upside. steadiness there after tapering plans. td securities at mid-march lowe's, saying the onus is on the data with more aggressive market pricing than that. a little clarity expected from the european central bank. struggling to break out as india's virus cases and new supplies weighing on prices. $50 a barrel, due in part to opec's willingness to make adjustment to prices and oil markets. cautioning that while the market is right about being bullish, the uneven recovery across the globe remains a headwind. shery: antitrust regulators have put most of china's largest internet platforms on notice. until recently china so-called b.a.t. companies had flown under the regulatory radar. our ch

let's get to vonnie quinn with the first word headlines. vonnie: the biden administration is weighing an appeal from progressive democrats to accelerate global access to covid-19 vaccines by subverting a waiver of intellectual property protections. more than 50 countries support the move including india and south africa saying it would save lives. it is opposed by big drugmakers who called the waiver unnecessary. former president trump blocked the initial proposal last year. singapore and hong kong are said to have called off plans to announce a highly anticipated quarantine free air travel bubble. that is for the second time in five months. no reason was immediately given. sources say a new date has not been immediately set. added -- adding the cancellation was put forward by singapore. doctors seeking to treat alexei navalny are urging the russian opposition leader to end his more than three week long hunger strike after outside specialists were allowed to see him. the doctors cited improved medical care and concerns for his life for the p

let's get the first word news with vonnie quinn. will start with iran saying talks to restore the nuclear deal were constructive, but it is demanding that the u.s. remove all sanctions for real progress. iran rejected the u.s. proposal of $40 billion in exchange for suspension of its production of enriched uranium. diplomats will me again and b&r friday. -- indiana friday. -- in vienna friday. sources say that vehicles linked to one person invested about 200 million u.s. dollars that the loans from the bank that collapsed early last month. india's economy projected to grow 12.5% this fiscal year, but the chief economist of cimf has not factored in severe downside risks from the second wave of covid-19 cases. they saw the record of 100,000 daily infections on sunday, and they have halted all nonessential services in their financial district. russian president putin said to be planning to take part in the climate summit hosted by president biden the summer. it would mark putin's first public engagement with president biden. the countr

i'm vonnie quinn. this is bloomberg. shery: still ahead, the vaccine rollout speeds up dramatically in the u.s. with almost one third of the country having received deferral -- the first shot. coming up next, the global growth forecast for the second time in three months. details ahead. this is bloomberg. ♪ haidi: some good news from the international monetary fund as a boost at the highest in 40 years. let's bring out global economics policy kathleen, this is the second boost in the second boost in the imf global forecast in three months. the u.s. is leading the way. what are the drivers? >> but start with the good news because yet to go back to the 80's when the data series first started. it hasn't been a stronger one since then. what they are looking at is the fiscal support in a few big economies. definitely some of the richer neighbors have been able to do that. they're expecting to have a vaccine driven recovery the second half of the year. look at those numbers, you see if you go back to 2008, how weak growth was.

let's join vonnie quinn. nnie: president biden's top economic advisers confirming the capital gains tax hike will only affect those earning $1 million per year. it will affect only a tiny share of american households. by dennis set to unveil his american families plan into future major spending measures funded by higher taxes on the wealthy. south korea's five main business lobby groups have reportedly sent a joint letter urging the president -- imprisoned samsung electronics why. they say that key decisions could be delayed due to lee's absence. as india hits a pandemic, high 352 thousand new daily covid-19 infections. bloomberg is learning that those who can shell out thousands of dollars are taking private jets to london and dubai. it comes from countries that have imposed travel curbs on india or are buoyed to do so. -- egypt has talked about the losses tied to the vessel that blocked the suez canal. they estimate 97 million dollars in damages. there are transit fees and costs associated with salvage effor

let's get over to vonnie quinn with the first word headlines. vonnie: thank you. brazils hospitals are struggling to cope with the crush of covid-19 patients as the nation gets hit by a more contagion's variant. the country reported more than 93,000 cases in a 24 hour period over the weekend. it's more than 3600 deaths. that has taken the total death toll in brazil above 350,000 people. health officials have warned the outbreak is at a critical stage but the president reiterated his opposition to lockdowns in a video released saturday. highlands local covid-19 cases hit a new record, threatening to derail the nation's plan to welcome back tourists. health officials say daily infection surged to 789. that brings tylan's total cases -- tylan's total cases to 31,000. philippines president relaxed a lockdown in the manila area. people are are required to stay at home but more businesses will be allowed to operate. china's cdc has admitted that the country's vaccine do not offer a high protection rate and may require improvements to boost effectiveness. the country's t

let's get you over to vonnie quinn. vonnie: good morning. moderna says it plans to reduce as many as 3 billion doses of its covid-19 doses next year. it is increasing output at several factories in the u.s. and europe. it says the number of doses it makes next year will depend on the mix of production with its current vaccine and pediatric vaccines and booster shots currently in human trials. the united kingdom might add the u.s. to its proposed growing list of countries as part of its plan to reopen borders to visitors. the hit head of -- the head of heathrow airport says -- the move would permit quarantine free travel between the u.s. and u.k. hong kong and parts of the caribbean are also being considered. germany, france and other european union governments are calling on the rest of the blot -- rest of the block to join them in curbing travel from india. there is concern of coronavirus variants in india triggering a fourth wave of infections in europe. several officials urged the e.u. to quickly adopt restrictions. the indian prime minis

let's get to vonnie quinn. vonnie: the cdc has confirmed the u.k.'covid-19 variant the most common strain in the u.s., overtaking the original form of the virus. depending and despite rising cases, new york announced it will reopen beaches in time for memorial day weekend and the public pools will open the following month. alabama will lift it state mandates on masks friday following similar moves by texas and indiana. president biden pushing pressure -- putting pressure on republicans and urging congress to work swiftly to pass the infrastructure plan. he calls it a blueprint for the future saying it is vital to stay competitive with china. republican lawmakers sharply oppose the plan. pres. biden: china is waiting around to invest in the digital infrastructure, on research and development. i promise you, they are not waiting. they are counting on american democracy to be too slow, too limited, and to divided to keep pace. vonnie: meantime, treasury secretary alan expects president biden's proposed corporate tax hike -- she says the plan to raise co

for now, let's get to vonnie quinn with the first word headlines. vonnie: president joe biden told more than a dozen ceo's that he has bipartisan support for funding to address the shortage. during every virtual summit, companies that glued alphabet, gm, tsmc, biden led a writer from lawmakers supporting his proposal for chip manufacturing and research. white house says the meeting shows they are serious about addressing supply chain constraints. the london mayor is urging residents who work or they've been part of the city to get tested for covid-19 after an outbreak links to the south african variant. the mayor says anyone over the age of 11 should get tested as soon as possible. the u.k. reopens shops, restaurants, gyms, hair salons, all after months of stringent on down measures. russia has suspended most air travel was turkey, citing rising covid-19 infections for russians returning from turkey. the move cuts off a source of tourism revenue for turkey and comes amid a spat over and cars -- ankara's support of ukraine. iran is blaming israel for

let's turn to vonnie quinn.global for tallies surpassed 3 million over the weekend as the pace of debts continues to accelerate in developing nations. the current death toll comes three months after reaching the 2 million mark, by comparison it took more than eight months to record the first million. the real death toll is likely far higher due to underreporting and patchy data around the world. the cdc just said more than half of all adults in the u.s. have received at least one covid-19 shot. it is another milestone in the nation's largest ever vaccination campaign. almost 84 million adults, about one third of the population has been fully vaccinated. the u.s. and about 52,000 cases saturday. the pace of infections has accelerated, fueled partly in cases by younger people. the u.s. and china say they are committed to cooperating on climate change. the joint statement comes after envoys from both sides met last week amid growing geopolitical tensions on issues ranging from trade to human rights abuses. joe bide

let's find out what it is as we get the first word news with vonnie quinn. vonnie: yes, that is coming up but first, president biden saying the administration has achieved its goal of administering 200 million vaccine shots in his first 100 days in office. plus the president is asking companies to do more to boost the inoculation efforts. he is encouraging small businesses to take advantage of attacks click -- of attacks credit which will help -- of a tax credit. >> i am calling on every employer large and small in every state to give employees the time off they need with pay to get vaccinated. and anytime they need with pay to recover if they are feeling under the weather after the shot. vonnie: u.s. regulators are said to be considering tougher disclosure environments for investment firms after the implosion of archegos and gamestop. sources say the sec is exploring how to increase transparency for the types of derivative bets that sank archegos. the regulator also faces pressure from capitol hill to shed more light on who -- more than a century after estim

let's get the story and the rest of the first word news from vonnie quinn. vonnie: pfizer says its covid-19 vaccine is 100% effective in children aged 12 to 15 and is seeking to add adolescents to fda authorization. the results could allow u.s. teens and preteens to get shots before the next school year. it is overly approved in those aged 16 and older. pfizer and its partner biontech plan to submit the data to their american and european regulators as soon as possible. the french president imposing a four week nationwide lockdown saturday in an attempt to contain a surge in covid-19 infections he calls more contagious and deadlier. the measures include a three-week nationwide school closure and a month-long domestic travel ban. the measures, as cases in other parts of europe continue to spike. the biden administration raised concerns about the policy tools china is using to spur its economy. according to a trade representative, beijing's support for domestic industries is resulting in determination against foreign companies. it says there is likely to be lon

shery: let's turn to the first word headlines with vonnie quinn. vonnie: the u.s.e has worn china against encroaching on taiwan. in an interview with nbc news, antony blinken voiced concerns about beijing. saying the u.s. stands by its commitments to ensure the islands defense. his comments come after the state department --. the biden administration is said to be stepping up scrutiny of chinese -- china's plans. u.s. officials are concerned it could spark a long-term bid to topple the dollar as the world's dominating currency. the pboc has put it on track to be the first major central bank to issue a virtual currency. former u.k. prime minister david cameron has broken his silence defending his efforts to lobby -- cab -- cameron and top cabinet ministers came under fire last month. cameron lobbied officials to give greensill access to funds. japan has just made golfing history. the first japanese born winner of the tournament. he earns the coveted green jacket by finishing 10 under par. american players came in the second and third spots. global news 24 hours a da

i am vonnie quinn. this is bloomberg. shery: let's get back to minneapolis. our bloomberg reporter, fola akinnibi, is on the ground. what are you seeing now? we got concerns about potential protests ahead of the verdict. what is the situation now? fola: i am here in george floyd square. >> black lives matter! fola: we were here last year and, you know, it's a jubilant atmosphere. people are celebrating. people are hugging, crying. they have been chanting. there have been speech going on people are -- going on, and people are happy. we have not seen any sort of unrest here at least and there is a minimal police presence in the square. shery: -- haidi: you can hear the relief, to some extent, jubilation and celebration, but at the end of the day, is this -- of course a celebration, because this should be the baseline, that some sort of justice was served for something that never should have happened in the first place. what is the next step in terms of pushing this forward to ensure that police violence a

let's get you over to vonnie quinn with the first word headlines. vonnie: president joe biden told more than a dozen ceos he has bipartisan support for funding to address the chip shortage. during a virtual summit with companies that included alphabet and gm, biden read a letter from lawmakers supporting his proposal for manufacturing and research. german chancellor angela merkel's succession took a turn. bavaria backed its chairman, turning its back on the larger cdu. the move sets up a tense showdown months before national elections. russia has suspended most air travel with turkey, citing rising covid-19 infections in russians returning from the country. it comes a mid a spat over anka ra's support for ukraine. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: don't miss the big interview. coming up, we'll be speaking to the ceo of a sydney based payment company. shery: we do have the brazilian federal bank preside

vonnie quinn is there with the first word headlines. vonnie: u.s. regulators are said to be considering a tougher plan for investment firms after the implosion of archegos. sources say the sec is exploring how to increase transparency for the type of derivative beds that sank day -- derivative bets that sank archegos. president biden says his administration has achieved its goal of administering 200 million vaccine shots in his first 100 days in office. the president is asking companies to do more to boost the inoculation effort. he is encouraging small businesses to take a vantage of a tax credit that will help pay workers for time off to get vaccinated. >> i am calling on every employer large and small in every state to give employees the time off they need with pay to get vaccinated. anytime they need with pay to recover if they are feeling under the weather after the shot. vonnie: sources say the biden administration will soon restoring california's power to limit in missions -- limit emissions from vehicles. the move would reverse two trump era

let's get to vonnie quinn with the first word headlines. vonnie: the u.s.test nation pledging aid to india to help stem the biggest search of covid cases. the administration says it is sending rock vaccine materials and will step up financing support. it will maybe offer unused astrazeneca doses. india reported around one million new cases and that has three days, and the prime minister is imploring residents to get vaccinated. meantime, -- [indiscernible] the indian express newspaper said criticism of the handling of the pandemic as well as videos of attacks by maoist insurgents. in a statement, twitter says it reviews all valid, legal requests. thai officials have ordered dozens of bangkok businesses ordered high risk to shut down. the city is racing to contain its biggest outbreak since the start of the pandemic. cinemas, gyms and convention centers will be closed for two weeks starting monday, while malls and convenience stores cooperate with limited hours. more than half of thailand's almost 3000 cases reported were detected in bangkok. bloomberg sourc

vonnie quinn with the first word headlines. vonnie: joe biden says he spoke with prime minister narendra modi to talk about when the u.s. would send covid vaccines to india. it is something he intensity but did not specify a timeline for a decision or shipment. biden says the u.s. is providing aid in the meantime including remdesivir and machinery for vaccine manufacturing. australia is banning all flights now from india until at least may 15 as the asian nation battles what scott morrison describes as a terrible crisis. morrison announced a 30% flight coming from india in a bid to ease pressure on inner-city hotels being used as quarantine centers. he called the number of cases diagnosed in these hotels and originating in india concerning. sources tell bloomberg president biden is planning to exclude an expansion of the estate tax in the proposal. during the 2020 campaign, biden pledged to increase the estate tax. the american family plan seems to be unveiled wednesday and will end the major benefit for wealthier states that ha

let's get over to vonnie quinn in new york for that story and the rest of the first word news. vonnie: we will continue with foreign policy. the u.s. is about to sanction about 20 russian individuals for election interference and for a massive solar wind hack. suspected russian hackers injected malicious code downloaded onto customer networks. at least nine federal agencies were impacted as well as dozens of private firms. u.s. spy chief will testify before lawmakers for the first time in more than two years with congressional leaders raising the alarm on china. intelligence heads label beijing as unparalleled priority for the intelligence community, with the fbi director unveiling they open a new investigation into china every few hours. >> we have now over 2000 investigations that tie back to the chinese government. on the economic espionage side alone, it is about a 1300% increase over the last several years. we are opening a new investigation into china every 10 hours. i can assure you it is not because we don't have anything to do with their time. vonnie: in the run-up to g

let's get you to the first word news with vonnie quinn. : pfizer and biontech will raise the covid-19 vaccine faries -- covid-19 vaccine deliveries to the european union by 19%. the additional 15 million doses will have two what they were expecting from pfizer. this happens -- this comes after johnson & johnson shop was closed in the u.s. and its delivery delayed to the eu. >> we might need them to reinforce and prolong immunity. and if a variants occurs, we will need enough vaccines and we will need them early in sufficient quantity. we are now entering into a negotiation with biontech pfizer for a third contract. this will foresee the delivery of 1.8 billion additional doses of vaccine. over a. of 20 -- over a period of 2022 and 2023. vonnie: u.s. by chase have testified before lawmakers with first time in more than two years. intelligence heads labeled unparalleled priority for the intelligence community. russian hacking and i withdraw from afghanistan were also areas of concern. >> we have, now, over 2000 investigations in the chinese g

shery: let's now get over to vonnie quinn with the first word headlines. in fact, we don't have her on the moment, but the johnson & johnson vaccine over a link to a rare blood clotting disorder. official saying that both the j&j and after zeneca vaccines used similar technology. and both have raised concerns over blood clotting. earlier this week, australia abandoned its goal of inoculating its entire adult population by year end. francis prime minister has announced the suspension to and from brazilian definitely. it stems from fears over a more contagious variant of covid-19. relatively few known cases of the brazilian strain. it requires them to get a negative test and quarantine. china will curve anti-competitive practices within the next month. they were summoned by regulators on tuesday, it was find a record $2.8 million last week. 34 firms will have to undergo inspections and pledge to end abuses. marking dominance among other violations. the white house has sent an unofficial delegation to taiwan is president biden according to voters, senator chr

let's now get over to vonnie quinn. vonnie: pboc says its goal of internationalizing the yuan is not an attempt to replace the dollar but give markets another option to facilitate international trade. they also say efforts to create a digital yuan are solely for domestic use. a recent report indicated president biden is increasing scrutiny over china's rollout of the digital monetary tool amid concerns it could displace the dollar. the u.s. and china say they are committed to cooperating on climate change and on implementing the paris agreement. the joint statement comes after envoys from both sides met last night amid growing jail palooka tensions on issues ranging from trade to human rights abuses. u.s. president biden will host a virtual economic conference this weekend chinese president xi jinping will principate. the u.s. has warned russia it will face consequences if jailed opposition leader alexey navalny dies. the outspoken putin critic is in his third week of a hunger strike. allies say he is in critical conditi

i'm vonnie quinn. this is bloomberg. are back at joint base andrews as we continue to wait for prime minister suda to deplane in maryland. this as he heads towards his first summit with president biden. he would be the first foreign visitor -- foreign leader to actually meet with biden since he became president. the summit will take place at 1:30 p.m. eastern at the white house and then they will both hold a press conference together at 4:15 p.m. eastern, as well. we have heard, haidi, that there is a lot on the agenda already. a senior official talking about china, south korea, the tokyo limbic's, other issues on the table. haidi: just as a point of interest, we know that everything, including air travel and a diplomatic relations, have to be done differently, given we are still in the middle of a pandemic. the pandemic has forced the prime minister to travel to the u.s. with quite a reduced entourage, as well. cabinet members that would usually accompany him are not with him and the first lady is not with him, as well.

let's get over to vonnie quinn. vonnie: in other news, the tokyo governor says she wants the government to declare a state of emergency as soon as possible to curb the surge in covid-19 cases. infections in the city have jumped to levels not seen since january. the prime minister set out restrictions in tokyo, osaka, and other regions this month to slow the spread ahead of the summer olympics. prime minister narendra modi is urging states to avoid lockdowns to avoid another hit to india's struggling economy. infections have forced the shutdowns of new delhi and mumbai. modi says states should only lockdown as a last resort. india has the world's fastest growing number of covid-19 cases, with more than 250,000 infections and 1700 deaths recorded tuesday. the european union's top diplomat says russia's military escalation on the border with ukraine has gone to 150,000 troops, the largest buildup ever on the frontier of both countries. he says that raises the possibility of further conflict. but the block is not discuss

i'm vonnie quinn.lnc group is taking its streaming best misses -- businesses public in the u.s.. the president director told us why they are not opting for a traditional ipo. >> this back -- thus back -- decisive cash and the balance sheet. the prince of a love this back -- principle of this back as been going on for more than 20 years. [inaudible] why in the u.s. and not in indonesia? [inaudible] >> are you concerned that there has been a lot of talk about a greater regulation on spacs? that could give rise to a greater requirement of disclosure. with that affect you? >> we have signed an agreement with manufacturers. now we are analyzing the perspectives. i think we should be able to meet the requirement by the fcc. we will have a deal by the end of q2. at the latest, july of this year. >> some are saying that you will be valued at 573 million u.s. dollars. can you confirm the amount? what do you intend to do with the funds? >> that's on the equity valuation. [inaudible] what we are going to do with

let's get the first word news with vonnie quinn.g on india, president biden saying he spoke with prime minister modi to discuss when the u.s. will be able to send covid vaccines to india. it is something the president says he intends to do but he did not specify a timeline. biden revealed that the u.s. is providing aid, and machinery for a vaccine manufacturing. president biden is telling to forgo an extension of the estate tax and his tax hike proposal. during the campaign, biden pledged to increase the estate tax, but bloomberg is now told the estate tax boost will not be a part of the american families plan the president will unveil on wednesday. canadian prime minister justin trudeau told the bloomberg green summit that canada will reach its new target to reduce emissions by up to 45% by 2030. that is despite his country's record of missing previous climate goals. data shows that canada was the only country to see its harmful emissions rise between 2015 and 2019. p.m. trudeau: it is also about consumption. it is making sure that

for now, let's turn to vonnie quinn with the first word headlines. vonnie: johnson & johnson's vaccine will remain on hold in the united states, saying more dated is needed before the decision can be made. it will hold for at least a week into the panel meets again. seven people ads. just adverse reactions from the thought -- from the shop. european nations are split over johnson & johnson's vaccine after the reports of where blood clots. france, poland and hungary are moving forward. the drug regulator says there is a review of the vaccine. it expects to issue a recommendation in the next week as well. for now, it says the benefits outweigh the risks. pfizer and biontech will raise covid-19 deliveries to the european union by 25%, bringing forward delivery scheduled for q4. the additional 50 million doses will add to the 200 million the block was expecting from pfizer through june. this announcement comes after johnson & johnson shot was positive u.s. and the delivery delay for the eu. >> we might boost the jabs to reinforce and prolong immunity. if

let's get over to bond 8 -- two vonnie quinn with first word headlines. vonnie: thank you. jamie dimon says he is optimistic the pandemic well and with u.s. rebound quickly last at least two years. in his annual shareholder letter, he says economic conditions are likely to result in a boom that may run into 2023. he also warns that while lenders are benefiting from u.s. stimulus, disruptions by technology could shrink the role of traditional banks in the financial system. the eu is pushing for a response to its regulator finding of "a strong association for the vaccine and blood clots." the u.k. drug regulator issued a warning about the astrazeneca ja b, advising people under 30 to seek a alternative. it developed an off -- in oxford and continues to tout its global rollout. the cdc has confirmed to the u.k. covid-19 variant is the u.s., overtaking the original virus. despite rising cases across the country, new york announced it will reopen beaches in time for memorial day, and public pools will open the following month. tokyo is preparing to impose new restrictions to mat

i'm vonnie quinn. this is bloomberg.: the asia trading day in hong kong -- quite higher on monday as the daily caseload for virus there. so what are they saying now? >> we did see thailand's daily case after topping 1700 on sunday. sydney saying near-term pressure could see the s&p index move to the 1500 level, so there is a rotation into energy, health care and consumer finance. vaccine rollout plans remain unclear. nonetheless, the index in thailand climbing to 1600. shery: we have seen a rally when it comes to emerging-market assets and we have the likes of morgan stanley and goldman sachs being more cautious about emfs. why is blackrock favoring them now? >> after a choppy first quarter, they see signs of a turnaround. they expect a dollar rally will pause as markets consider the broadening of a reopening. staying overweight on asia and with the economic rebounds seem to be delayed and not derailed. vaccinations remain a key headwind, otherwise they are favoring the space. shery: let's make a u-turn and talk about sp

i am vonnie quinn. this is bloomberg.aidi: still ahead, we have an exclusive with the world bank later this hour, the chief economist carmen reinhart gives us her outlook on the global recovery and risks posed by mounting piles of debt. next, oaktree capital says opportunity has come and gone and the distress that space with the worst of the pandemic, next. this is bloomberg. ♪ haidi: breaking news, a sell agreement with cleaner way for one of its units, valuing that unit at 2.5 2 billion australian dollars and this accord with clean away is subject to eight suez veolia outcome, still trying to find a negotiated solution with veolia on that, if suez reaches an agreement with biella upfront transaction including a tender offer on suez -- agreement with veolia for a transaction including a tender offer on suez. ][-] we are hearing the talks have agreed with the sale agreement that values the unit at 2.5 billion australian dollars and we will get more details on the detail -- on the deal as they get to us. a distressed debt

i'm vonnie quinn and here are the first word headlines.sident joe biden said the murder conviction of the former minneapolis police men over the death of george floyd is a giant step forward. they also called on lawmakers to do a police reform to ensure an acting change. a jury found derek chauvin guilty of second-degree murder and to lesser charges. a jury deliberated for about 10 hours for the killing that's part national outrage and triggered worldwide protests. u.k.'s prime minister boris said britain must be ready for another wave of coronavirus infections later this week -- this year. he says plans to reopen the economy are on track. the comments came as he launched a new pride graham to limit the impact -- program to limit the impact of covid strains. though u.k. cases are falling, it's wrong to think the virus has gone away. p.m. johnson: the majority of opinion in this country is still firmly of the view that there will be another wave of covid, at some stage this year. so we must, as far as possible, learn to live with this disea

i'm vonnie quinn.sident joe biden will address congress and give details of his american family plan, defining $1 trillion in spending with $800 billion in tax cuts and credits. it's funded in part by the largest tax increase in decades on wealthy americans. biden will say that wall street did not build america, the middle class did. let's bring in the director of economic policy at veda partners. always great to have you as always. how attached should we be to the details that are in this plan, given that there was an overestimation of how strong the progressive agenda would be in congress? henrietta: i stole a line from ted lasso. watchers and investors be goldfish. the president is going to rollout optimistic spending levels, $4 trillion between the infrastructure plan and the family plan. he will rollout free -- $4 trillion worth of tax cut -- tax hikes. our expectation is that gets cut at least in half if not more than that by the end of this process which will take until september to play out. yo

i'm vonnie quinn. joe biden formally announced all americans over the age of 18 will be eligible for a vaccine by april 19. right in spoke at the white house on the estate of the efforts in the country, warning the u.s. is still in a life-and-death race against the virus. he warned while there has been progress, there are variants spreading quickly. pres. biden: there is a lot of good news but there is also bad news. new variants of the virus are spreading, and they are moving quickly. cases are going back up. hospitalizations are no longer declining. while deaths are still down, way down from january, they are going up in some places. vonnie: the united kingdom is told -- has told britain's to hold off on planning holidays the summer, deflating the hopes of an airline industry desperate to get back in the sky. restaurants, pubs, shops reopened next week. prime minister boris johnson says it is not clear non-essential international travel can resume safely as planned on may 17. israel's president has c

first word news to new york with vonnie quinn. vonnie: japan's export posting a double-digit increase for the first time in three years, in march, as the recovery kicks up -- picks up in key markets abroad. the value of overseas shipments getting 16.1% from one year earlier led by export of cars of a and nonferrous metals. economists had forecast an increase of 11.5%. 12 of europe's wealthiest soccer clubs announced a breakaway super league that prompted condemnation from other soccer leagues and you could pry minister boris johnson. the 20 team, edition would be an alternative to the uac champions league. the ruling body about to stop what it calls a cynical project and threaten to ban teens from current competitions and players could be banned from the old cup. the pboc says its goal of internationalizing the you want is-- yuan is to give another option. it says efforts to create a digital yuan, are solely for the domestic use. reports indicate president biden is increasing scrutiny over china's role of the digital currency with

i am vonnie quinn. this is bloomberg.di: jake a look at the -- take a look at the earnings numbers with stock trading lowers. we are seeing a downside and that is the most we are seeing that stock fall in more than two months. forecast for the current year missed analyst expectations and also plans of a $2.6 billion capital spending plan. a bab -- a buyback of 2% of its share. very positively for investors in tokyo listers shares are around 60% that results -- they have been pretty range and today is most definitely a down day, this after a buyback plan was announced. china is raining in the finance -- we get all the details on how the cubbies will be affected. include the likes of tencent. how india's vaccine drive left the country and cast. anger at the prime minister is growing. this is bloomberg. ♪ shery: chinese regulators have cast their nets wider in its ongoing account of big tech, this time posing wide-ranging restrictions on 13 companies including tencent. our correspondent is taking a closer look and joins us f

let's get you to vonnie quinn in the meantime with the headlines. vonnie: secretary of state antony blinken has warned that the u.s. has fallen behind china to shape a green future. he said the u.s. needs to seize opportunities created by climate change to export american values. he pointed out china's dominance and green energy production. >> china is the largest producer and exporter of solar panels, batteries, and electric vehicles. it holds nearly a third of the world renewable energy packets. if we don't catch up, we will miss the chance to shape the climate future in a way that reflects our interests and values and we will lose out on countless jobs for the american people. vonnie: the philippine president says challenging china in this china -- in the south china sea would lead to violence and would only do so of beijing drills for oil there. it was the first on the issue since chinese vessels responded to a contested region the water. businesses have called on china to withdrawal, calling it undisputed territory belonging to the philippines.

let's learn more about that story with vonnie quinn in new york. vonnie: chinese holdings of u.s. treasuries rising to the highest since mid 2019 as yields climbed after stimulus for the american economy. it remains the second largest foreign holder behind japan. chinese buying came in the middle of the worst quarter for the treasury since 1980. staying in the u.s., some senior republican lawmakers calling for broader restrictions on u.s. sales of chipmaking tools to china. in a letter to the commerce secretary, they say there is clear evidence companies linked to the chinese military are using the technology to develop advanced weaponry. hong kong media tycoon jim eli -- jimmy lai faces 4 separate court appearances friday as china continues its crackdown on dissent. authorities are pursuing six cases. the defense has rested its case in the trial of the former minneapolis police officer accused of murdering george floyd. derek chauvin refusing to testify, ending speculation that perhaps he would. closing statement will be given monday before the racially diverse jury sequesters. g

i am vonnie quinn, this is bloomberg. haslinda: still ahead on bloomberg markets: asia, some personnel changes coming following the $2.9 billion loss because of these trades. rishaad: this is bloomberg. ♪ rishaad: we are back. billionaire errors have outlined a plan to pay one of the largest inheritance tax bills in history. about $11 billion worth of assets in a series of transfers that will take place over several years. this get details. phyllis and. this tax bill is huge. -- fill us in, the tax bill is huge. >> their father died best year. his value was estimated at $1 billion and south korea has one of the largest tax rates, i think it is the second highest in the world. compared to the 37 other members . i think their average was around 15%. korea is at 50%, 50. when their father died, the family got $21 billion worth of fortune. take that, half of that. that is around $11 billion. they could have actually paid more. they are donating 23,000 pieces of artwork, including some amazing ones. they would probably have to

i'm vonnie quinn. viviana: --this is bloomberg. rish?ishaad: tensions in china are set to rise as lawmakers draw up new plans to counter beijing. we've got details on the way. this is bloomberg. ♪ juliette: final day of the trading week here in asia, and we are following on from the momentum we saw on wall street and fed chair jay powell's comments, as well. asian stocks other bit mixed even though we are seeing a tick up in u.s. futures prices. we saw a waiver and the csi 300 is down. hong kong's market down three quarters of 1%. even though japan announced more virus curbs, here is singapore pretty flat, most analysts saying there will be little reaction to the news of the leadership, something singapore is so efficiently and professionally matter -- managed, it doesn't have an effect on the market. norway and telenor merging operations. alibaba also in fort us -- in focus. we're watching a lot of the china markets. corporate's are releasing first quarter leanings. in singapore, rish. rishaad: we've got the u.s. senate introducing a ne

i'm vonnie quinn. this is bloomberg. shery: we will speak to the lyft cofounder on their plans to sell their side try -- self-driving unit two toyota. why wall street is disappointed in tesla despite their estimates. this is bloomberg. ♪ paul: tesla's following ahead of trade despite beating profit expectations. it is the second -- seventh consecutive quarter of profit with strong demand of its model three sedan. it's looking to expand operations on three continents. still, a reporter who covers tesla -- what are the big takeaways from this result? >> shares are down in after hours trading because there is not big news. investors were expecting a profit. there was not new catalyst they were announcing. they did not talk about guidance for the year. you're seeing a selloff because there just was not -- it was good news, but not a blockbuster. the big news from the earning call was what they set about the most recent crash in texas. they were adamant's that, as far as i can tell, there was a driver in the front seat which